How has become one of the most expensive fintech-startups in Europe?

Alyona Shevtsova
2 min readJul 10, 2020

People are kind of sick of the topics concerning the fintech industry development and its growth owing to the circumstances brought about by COVID-19. However, the relevance and applicability of non-cash payment solutions are really wide during this period. They have become indispensable tools and assistants in everyday quarantine life for many of us. Thus one of the successful industry platforms

also pointed out the positive impact of the pandemic on the development of its business. Recently, the payment service has announced a $150m Series B funding round. But according to the company, the startup was profitable from the very beginning and had something “to show”.

What is

The company, founded in 2012 in the UK, specializes in payment technologies. Its solutions provide merchants with the opportunity to accept online payments in 150 world currencies, with all international bank cards and through a variety of payment instruments (e-wallets, etc.). The functionality also protects online merchants from fraud and provides with payments reporting. The start-up has already been working with such large companies as Samsung, Adidas, Virgin Active and so on at the Series A funding round. Well-known brands attracted new investors. With the funds received in the first round, and this is after all $230 million

a record amount of venture capital investments in Europe, began to expand geographically and grow in popularity in Asia and Latin America. market place

As I’ve already mentioned, the company recently received $150 million funding. Thus, fintech startup became one of the most expensive in Europe. Such market players as PayPal, Stripe, Adyen, Square are the platform’s competitors. Yes, the competition on the market is keen, but is well on the way to success and driving up growth rates. Thus Curve, after the announcement about Wirecard insolvency, which I wrote about last week, integrated as a platform for payments and transfers processing. Other large companies and services have also joined the partners

Farfetch, Glovo, Revolut.


Someone doesn’t understand the attractiveness of and assures that this project is another standard psp. Someone is convinced that the company fixes the problems with international payments and the their processing speed. Well, someone is sure that the startup will face problems soon.

This is an objectively successful project from the very beginning

a rare, but still possible case in our turbulent niche. Big partner companies and on-trend solutions convinced investors that was worth their while. The startup got significant financing, and the company valuation exceeded $ 5.5 billion. However, it is necessary to take into account the factors of fierce competition on the market and unforeseen circumstances. The case of Wirecard illustrates that the picture does not always correspond to reality.



Alyona Shevtsova

CEO of the international payment system LEO, the shareholder of IBOX Bank